GI Innovation announced on the 20th that it has signed a memorandum of understanding (MOU) with Chinese biotechnology company LaNova Medicines for the development of immuno-oncology agent 'GI-102' and antibody-drug conjugate (ADC) combination therapy for pancreatic cancer. The MOU was signed at the recent JP Morgan Healthcare Conference held in San Francisco, USA. LaNova previously transferred the multiple myeloma compound LM-305 to AstraZeneca for a total of 800 billion won in 2023. The two companies plan to conduct clinical trials combining GI-102 and the ADC compound LM-302 for patients with advanced pancreatic cancer.
GC Biopharma announced on the 20th that it has renewed its ISO 27001 certification, which is the information security management system established by the International Organization for Standardization (ISO), and newly acquired the ISO 27701 certification, which is a standard for personal data protection and handling. The company explained that this signifies its pursuit of a secure information protection management system and proper responses to global partners' cybersecurity requirements.
The Ministry of Health and Welfare announced on the 20th that Park Gu-seon, head of the National Survival Technology Research Association, has been appointed as the chairman of the Daegu-Gyeongbuk Advanced Medical Industry Promotion Foundation. The new chairman has previously served as the vice president of the Korea Institute of Science and Technology Evaluation and Planning and as the chairman of the Osong Advanced Medical Industry Promotion Foundation, and will serve a three-year term as chairman of the Daegu-Gyeongbuk Advanced Medical Industry Promotion Foundation from the 20th of this month until January 19, 2028.
Syntekabio announced on the 20th that it will officially launch the 'LM-VS (Language Model Virtual Screening Software as a Service (SaaS))' based on AI language models. LM-VS is an AI drug development platform developed by Syntekabio, allowing users to select one target protein and conduct a virtual screening that generates effective substances through an infinite loop based on over 13 billion compound libraries, 200 million protein structures predicted by Google AlphaFold, and all known 3D structure bank data to date. While it is capable of screening 1,000 effective substances in a single exploration, the company noted that generally, a minimum of 50 iterations, and possibly up to 100 or even 200 iterations, can be performed.
Daewon Pharmaceutical announced on the 20th that its cough syrup, Codewon SC Syrup, surpassed 70 billion won in sales last year, maintaining its market share as the number one product. According to market research agency UBIST, the prescription amount of Codewon SC Syrup last year was reported at 70.1 billion won, an increase of 18.2 billion won compared to the previous year. Released during the COVID-19 pandemic in 2020, Codewon SC Syrup has shown remarkable growth in the cough syrup market. In 2022, the prescription amount reached 34.3 billion won, and in 2023, 51.9 billion won, resulting in an average growth rate of 156% over five years. The growth of Codewon SC Syrup is attributed not only to product quality but also to the stable production capacity of its Jincheon plant, which has the largest syrup production facility in the country. The effectiveness of Codewon SC Syrup was proven through a Phase 3 superiority clinical trial conducted on Korean subjects.
Huons Medic Tech, a medical device specialist of the Huons Group, announced on the 20th that it has launched the 'Premium 9-Pin Needle (syringe needle) 31G,' designed to minimize drug loss (leakage) and pain during skin booster injections. The 'Premium 9-Pin Needle 31G' is a single-use multi-sterile syringe needle exclusively for the drug delivery system 'Dermashine.' Dermashine is Huons Medic Tech's flagship aesthetic medical device, having recorded cumulative sales of over 20,000 units, leading the drug delivery system market. The 'Premium 9-Pin Needle 31G' has been developed as a dedicated product for procedures involving Juvederm, Rejuran, and Olidia. It is optimized for high-viscosity ingredients such as polylactic acid (PLLA), polydioxanone (PDLLA), and poldeoxyribonucleotide (PDRN) to minimize pain and leakage that may occur during injection.
Merz Aesthetics Korea, a global leader in aesthetics, announced on the 20th that its ultrasound lifting device Ulthera® has surpassed 3 million treatments worldwide. As of June 2024, more than 1 million Ulthera® transducers have been sold, leading to over 3 million treatments globally. According to Ulthera®'s global treatment guidelines, it is assumed that three treatments are performed per Ulthera® transducer, which has 2,400 lines. Ulthera® is an ultrasound lifting medical device approved by the U.S. Food and Drug Administration (FDA), allowing for customized treatments based on each patient's skin thickness and condition.